If we consider goals of future cars to emit less co2, microplastics, brake dust and safer, how does modern racing advance these goals? In my jaded view, rich guys are going faster and nothing trickling down to economy cars.
Whether this technology actually trickles down to production vehicles is debatable. But traditionally racing has been the incentive for major advances to be made in efficiency, aerodynamics, drivetrain components, tyres etc.
https://en.wikipedia.org/wiki/British_Racing_Motors_V16
They weren't the most reliable things though....
That was done with absurd levels of boost, fuel that bore little to no chemical resemblance to gasoline, and engines with a life expectancy (in qualifying trim) measured in single-digit laps.
The advances in modern engines' efficiency and reliability are staggering.